US weekly jobless claims fall defying expectations
The number of Americans filing new applications for unemployment benefits dropped last week, defying forecasts and highlighting the labor market's resilience.
Jobless claim applications declined to 227,000 for the week ending May 17, the Labor Department said Thursday. That's counter expectations of a rise to 230,000 applications.
The Labor Department reported that the four-week average of claims, which evens out some of the week-to-week gyrations at 231,500 applications.
Despite the decline in weekly unemployment claims, economists expect layoffs to rise in H2 2025 as tariffs imposed by the US administration weaken demand, disrupt supply chains, and exacerbate inflation, according to Reuters.
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